ONEOK, Inc. (NYSE:OKE) Shares Sold by Armstrong Advisory Group Inc.

Armstrong Advisory Group Inc. lessened its holdings in ONEOK, Inc. (NYSE:OKE) by 10.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 3,347 shares of the utilities provider’s stock after selling 370 shares during the period. Armstrong Advisory Group Inc.’s holdings in ONEOK were worth $336,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. HM Payson & Co. raised its stake in ONEOK by 6.3% in the 3rd quarter. HM Payson & Co. now owns 1,764 shares of the utilities provider’s stock valued at $161,000 after purchasing an additional 105 shares during the last quarter. Claro Advisors LLC grew its holdings in shares of ONEOK by 1.6% during the third quarter. Claro Advisors LLC now owns 7,132 shares of the utilities provider’s stock worth $650,000 after buying an additional 115 shares in the last quarter. Haverford Trust Co raised its position in shares of ONEOK by 1.2% in the third quarter. Haverford Trust Co now owns 10,067 shares of the utilities provider’s stock valued at $917,000 after buying an additional 117 shares during the last quarter. Brighton Jones LLC lifted its stake in shares of ONEOK by 1.1% in the second quarter. Brighton Jones LLC now owns 11,462 shares of the utilities provider’s stock worth $935,000 after buying an additional 122 shares in the last quarter. Finally, Ferguson Wellman Capital Management Inc. boosted its position in ONEOK by 1.4% during the third quarter. Ferguson Wellman Capital Management Inc. now owns 9,202 shares of the utilities provider’s stock worth $839,000 after acquiring an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

NYSE:OKE opened at $106.83 on Thursday. ONEOK, Inc. has a fifty-two week low of $67.05 and a fifty-two week high of $118.07. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The company has a 50 day moving average price of $105.95 and a 200 day moving average price of $95.28. The stock has a market capitalization of $62.41 billion, a P/E ratio of 22.35, a PEG ratio of 4.35 and a beta of 1.70.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.05). The firm had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter in the prior year, the business earned $0.99 earnings per share. Equities research analysts forecast that ONEOK, Inc. will post 5.1 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on OKE shares. Truist Financial raised their target price on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research note on Tuesday, December 3rd. UBS Group boosted their price objective on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Mizuho raised ONEOK to a “hold” rating in a research note on Thursday, November 7th. Wells Fargo & Company cut shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target on the stock. in a research report on Wednesday, December 18th. Finally, Royal Bank of Canada raised their price objective on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, ONEOK has an average rating of “Moderate Buy” and an average target price of $101.54.

ONEOK Profile

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.